Current Affairs - Business

Zepto, a prominent player in India’s quick-commerce space, has officially changed the name of its parent company from Kiranakart Technologies Private Limited to Zepto Private Limited. This strategic rebranding effort strengthens its market identity and aligns the corporate and consumer-facing brand in anticipation of an IPO. The move mirrors similar steps taken by other startups like Swiggy and Zomato before their public offerings. By consolidating its legal and commercial identities, Zepto is enhancing brand recall, easing communication with stakeholders, and streamlining regulatory procedures as it prepares to enter the stock market.

The primary goal of the Tata Neu SBI Card partnership between SBI Card and Tata Digital is to enhance the shopping experience by offering significant rewards and exclusive benefits. The card is designed to provide premium shopping experiences, with rewards such as NeuCoins, lounge access, and other lifestyle benefits, which aim to make everyday shopping more rewarding for consumers. The collaboration focuses on customer satisfaction and improved shopping convenience through both physical and digital purchases.

Swiggy partnered with the Ministry of Labour & Employment through a Memorandum of Understanding (MoU) aimed at boosting employment in the gig and logistics sectors. The initiative is expected to generate over 12 lakh job opportunities in the next 2–3 years via the National Career Service (NCS) portal. This collaboration leverages Swiggy’s reach in the gig economy and the NCS platform's ability to connect job seekers and employers. Through real-time job postings and seamless tracking, the partnership focuses on inclusive hiring practices and supports digital empowerment, particularly for youth, women, and individuals seeking flexible employment across urban and semi-urban areas.

Gensol Engineering Ltd came under regulatory scrutiny in 2024 after SEBI received a complaint alleging share price manipulation and fund diversion. Upon investigation, SEBI found prima facie evidence of serious misconduct, including treating company funds as personal assets by the promoters, Anmol Singh Jaggi and Puneet Singh Jaggi. The company was barred from accessing the securities market, and its promoters were also restricted from holding key positions within GEL. Violations included misleading disclosures, submission of forged documents, and breaches of PFUTP regulations. This action by SEBI reinforces the importance of ethical governance and investor protection in India’s corporate landscape.

Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, entered into a power purchase agreement with NTPC Ltd for the development of a 200 MW renewable energy project. This partnership significantly boosts TPREL's total renewable utility capacity to 10.9 GW. The project is expected to generate approximately 1,300 million units of electricity annually and is planned to be implemented across various locations in India over the next 24 months. The collaboration represents a strong step toward India's clean energy goals and reflects Tata Power’s commitment to expanding its green energy footprint.